Press Release from 2023-09-19 / KfW IPEX-Bank
KfW IPEX-Bank: Financing for NEoT Green Mobility
Paris 19th September 2023 – KfW IPEX-Bank joins Credit Agricole CIB and La Banque Postale to strenghten NEoT Green Mobility’s multi-currency financing structure up to EUR 145 million
With the support of KfW IPEX-Bank, NEoT Green Mobility (NGM), an industry frontrunner in green mobility asset financing, extends its existing multi-currency financing structure capacity to attain EUR 145 million equivalent, bolstering further its growth in Europe. KfW IPEX-Bank joins Crédit Agricole CIB and La Banque Postale as co-lender.
With this additional financing, NGM ascertains itself at the forefront of the energy transition financing by accompanying private and public entities in their transition to zero-emission mobility.
This transaction follows not only the 2022 extension of this facility, with La Banque Postale as new co-lender, but also NGM’s successful 2021 fundraising of EUR 80 million with 3i EOPF, Mirova Eurofideme 4 and Banque des Territoires, and underlines NGM’s consistent performance and growth in EU and the United Kingdom. Besides further increasing its financing capacity, NGM is more importantly one step closer to reaching its target of EUR 400 million assets under management by 2025.
The “E-Mobility-as-a-Service” solutions of NGM include the financing and supply of batteries, vehicle fleets or charging solutions for sectors including urban and inter-urban public transport, logistics, shipping, inland navigation, rail and charging solutions. The company is also exploring existing hydrogen-based solutions.
NGM is managed by NEoT Capital. Crédit Agricole CIB acted as lead arranger of this new transaction. Reed Smith assisted NGM and Crédit Agricole CIB as legal counsel for the transaction.
Philippe Ringenbach, CEO of NEoT Capital, commented:
“After welcoming La Banque Postale last year beside our historical partner Crédit Agricole CIB, we are now entering in a new era with the arrival of a key international player. This transaction will allow NEoT Green Mobility and NEoT Capital to keep on developing and even to accelerate its deployments and reach a global footprint as a major player in the energy transition to zero-emission mobility in Europe”.
Laurent Haik, Managing Director at Crédit Agricole CIB’s securitisation department, added:
”We are proud to have pioneered the first securitisation backed by zero-emission mobility assets and to have supported NGM from the outset and we are extremely happy to be joined by KfW IPEX-Bank, at a time where NGM is accelerating its development in view to become a major player on its market.”
Agnès Pelhate, Head of Asset Finance at La Banque Postale (corporate and investment bank division), said:
“We are pleased with NGM continued growth in France and across Europe, that will be further accelerated by the arrival of KfW IPEX-Bank and the increase in the banking lines available to finance the transition to more environmental friendly transportation.”
Andreas Ufer, Member of the Management Board of KfW IPEX-Bank, concluded:
“We are delighted to support NEoT Green Mobility and its E-Mobility-as-a-Service solutions. They fit perfectly with our agenda to finance the transition towards sustainable society in all three dimensions of the economy, environment and social. We look forward to seeing NEoT Green Mobility grow its business and help path the way for a zero-emission mobility.”
About NEoT Capital
NEoT Capital is a management company dedicated to supporting the energy transition to zero-emission mobility and low-carbon energy. Founded by leading industrialists, NEoT Capital creates and manages investment platforms that finance the deployment of zero-emission equipment based on innovative energy storage solutions. NEoT Capital brings together leading investors who will invest in these assets, carry them, and make them available to local authorities or operators as global services. Thanks to NEoT Capital’s technical and financial expertise, these services include not only financing but also support in the management and development of the equipment.
About NEoT Green Mobility
NEoT Green Mobility (NGM) is an investment platform funded by top tier investors 3i EOPF, Mirova Eurofideme 4, Banque des Territoires and EDF Pulse Ventures. This platform, managed by NEoT Capital is dedicated to financing the transition to Zero-Emission mobility and to supporting public authorities, transport operators, as well as logistics and industrial companies in their energy transition in Europe. NGM offers turnkey leasing and services solutions including provision of batteries, rolling-stock or charging infrastructures as-a-service to customers across a wide range of sectors: shipping, urban and inter-urban public transport, logistics, railway, and charging solutions. Backed by its investors in its growth, NGM has already deployed or committed to deploy c.€150m of assets.
About Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB)
Crédit Agricole CIB is the corporate and investment banking arm of Credit Agricole Group, the 10th largest banking group worldwide in terms of balance sheet size (The Banker, July 2023). More than 9,400 employees across Europe, the Americas, Asia-Pacific, the Middle East and Africa support the Bank's clients, meeting their financial needs throughout the world. Crédit Agricole CIB offers its large corporate and institutional clients a range of products and services in capital markets activities, investment banking, structured finance, commercial banking and international trade. The Bank is a pioneer in the area of climate finance, and is currently a market leader in this segment with a complete offer for all its clients.
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About La Banque Postale
La Banque Postale, along with its subsidiaries, including CNP Assurances, forms a large international bancassurance group, 11th in the eurozone by the size of the balance sheet. Its diversified business model enables it to support 20 million individual and corporate customers and local public sector actors in France with a complete range accessible to all. A subsidiary of La Poste Group, La Banque Postale is a local bank, present throughout the country with 17,000 contact points, including 7,000 post offices.
With its strategic plan “La Banque Postale 2030”, it has set itself the ambition to become the favorite bank for French people, with an integrated and omni-channel offer of bank-insurance services structured around its three brands: La Banque Postale, its day-to-day bank, Ma French Bank, its 100% mobile bank and Louvre Banque Privée, its private bank.
La Banque Postale is accelerating its diversification strategy and developing its expertise businesses, particularly in asset management, insurance, consumer credit and corporate and investment banking.
Drawing on its citizen identity, La Banque Postale is working towards a just transition by integrating environmental and social impact objectives into the heart of its governance. A company with a mission since March 2022 and a leader in impact finance, La Banque Postale aims to achieve net zero emissions by 2040. It is in the top rankings of the non-financial rating agencies.
About KfW IPEX-Bank
Within KfW Group, KfW IPEX-Bank is responsible for project and export finance. It supports German and European companies operating in key industrial sectors in global markets by structuring medium and long-term financing for their exports, funding infrastructure investments, securing supply of raw materials and by financing environmental and climate change mitigation projects worldwide.
As a bank that stands for transformation, it finances technologies of the future to support the transition towards sustainable society in all three dimensions of the economy, environment and social. By implementing ambitious sector guidelines for CO2-intensive sectors KfW IPEX-Bank ensures its financings are compatible with the goals of the Paris Agreement. By introducing GHG accounting it aims to achieve a net zero emissions portfolio by 2050.
As specialist bank, KfW IPEX-Bank has extensive industry, structuring and country expertise, it takes on leading roles in financing consortia and actively involves other banks, institutional investors and insurance firms. KfW IPEX-Bank operates as a legally independent group subsidiary and is represented in the most important economic and financial centres across the globe.
About Reed Smith LLP
Reed Smith is a dynamic international law firm with 1,800 lawyers in 30 offices in the United States, Europe, the Middle East and Asia. Established in Paris since 2005, Reed Smith now has 80 lawyers, including 22 partners. The Office Managing Partner is Natasha Tardif.